Konover chosen as CM for 3 retail units at DC USA; a $140m project
The Columbia Heights neighborhood of the nation's capital is undergoing an era of exciting revitalization in shopping, entertainment and housing - led by the DC USA retail project. Konover Construction Corp.has been selected as construction manager for three stores within this 546,000 s/f, $140 million, multi-floor interior mall.
Konover Const. has begun work on: a 32,000 s/f Best Buy, a 32,000 s/f Bed, Bath and Beyond, and a 25,000 s/f Marshalls.
Future plans include a Mattress Discounters, Staples office supply, Vitamin Shoppe and Quizno's sub shop. All work is scheduled to be completed in early winter for the official March 2008 opening of the mega-complex.
This is a highly detailed project involving many construction companies working simultaneously to meet the same completion date. Konover Construction is working closely with the building's owners to coordinate their needs to complete the seven retail shops on schedule.
"Each time we complete a retail project, we know we are creating a structure that will help serve the needs of the community," said Mike Kolakowski, president and chief executive officer of Konover Construction Corp.. "With DC USA, we are also taking part in an historic revitalization project that is actually transforming a neighborhood. It is rewarding to know our dedicated team of construction managers and workers is involved in this important - and beautiful - project."
Wallingford, CT O,R&L Commercial has completed the $3.8 million sale of a mixed-use investment property located at 33-39 North Main St. and 24-25 Wallace Ave. in the town center.
Now what? As the year comes to a close, the state of retail is always in the news. The answers vary greatly depending on who in the various related industries you ask, each offering a unique lens on the challenges and opportunities ahead.
This may seem self-serving, and I’ll be the first to admit it. But unlike some of the artificial intelligence tools now reshaping our industry, I am fully aware of my own bias. So, hear me out. The rise of AI in commercial real estate is not a distant threat or a speculative headline.